Hong Kong offers a favorable business environment, low taxes, easy company formation, and access to capital and skilled labor, making it an attractive destination for entrepreneurs and businesses looking to expand in Asia.
There are several advantages of setting up a company in Hong Kong, including:
Hong Kong has a simple and straightforward tax system that is one of the most favorable for businesses in the world. The main types of taxes in Hong Kong are:
It is worth noting that there is no capital gains tax, estate tax, or inheritance tax in Hong Kong.
In addition, Hong Kong has signed agreements with more than 40 countries to avoid double taxation, which means that businesses in Hong Kong only pay tax in one jurisdiction, even if they have operations in multiple countries.
Overall, Hong Kong's simple and low tax system, coupled with its extensive network of double taxation agreements, makes it an attractive destination for businesses looking to minimize their tax liabilities.